+60 3 6411 0919info@destinyhomes.com.my Languages:
 
 

 

 

High-End Properties Continue To Attract Foreign Investors

KUALA LUMPUR, April 2 (Bernama) -- Malaysia's property sector will continue to attract foreign investors, especially the high-end segment, despite the recent changes in the local political landscape, Asian Strategy & Leadership Institute (ASLI) chief executive officer Datuk Dr Michael Yeoh said, Wednesday.

However, the foreign investors are bound to adopt a "wait and see" attitude for now until the political scenario is much more clearer, he said.

The wait-and-see attitude is more likely to affect the high end properties that depend on foreign purchases like those in the KLCC areas or those above RM2,000 per sq ft.

Presenting a talk here today on the "Impact of The Recent General Election on the Real Estate Industry", organised by the International Real Estate Federation Malaysia (FIABCI-Malaysia), Yeoh said a more clearer political picture was expected after the UMNO General Assembly in December and this will result in a relatively more stable property market.

He, nevertheless added there was no sign yet of a slowdown in the foreign investments.

Whatever the changes, the basic policies are expected to remain same, he said, adding that the local property market will continue to be boosted by domestic demand.

"I dont think domestic demand would slow down, I think that would continue to be strong," he added.

Yeoh also said a more influencing factor was the global economic situation rather than Malaysian politics as the U.S subprime crisis was far from over and that it may have impact on global liquidity.

On a positive side, he said Malaysian economy was well preserved by domestic consumption which was robust.

ASLI has forecast a gross domestic product growth of between 5.8 percent and 6.2 percent this year amid robust domestic demand, and exports of its oil and gas and palm oil.

Meanwhile, Glomac Bhd's group executive vice chairman, Datuk Richard Fong, was also upbeat on the high-end property market. He said: "I think the property sector will remain stable and we will see a surge of foreign investments for properties especially in the high-end market, mainly from the Middle East."

Bukit Kiara Properties Sdn Bhd's group chairman Datuk Alan Tong Kok Mau meanwhile said there was still a lot of growth potential for the high-end property market, saying that Malaysia's property prices still remained very competitive.

"There is still a niche market for the high-end segment and we would focus on that. Towards the year, we would see demand mainly from the Middle East and China," he said.

-- BERNAMA

 


MM2H News 2009
31 March 2009
Changes to MM2H Rules and Incentives


MM2H News 2008
19 November 2008
MIPIM Asia: Kuala Lumpur project is attracting international buyers
18 November 2008
M’sia My Second Home members may be allowed to work
17 November 2008
Property roadshow to attract Japanese investors
17 November 2008
Malaysia able to overcome global financial crisis
04 November 2008
Go on, let Malaysia amaze ya
16 October 2008
Is Malaysia truly Asia? Expats will not find better
10 September 2008
Overseas: A taste of paradise
04 September 2008
Malaysia targets Sri Lanka's leisure travellers
03 September 2008
Malaysian budget tries to alleviate impact of credit crunch
29 July 2008
Al Rajhi Bank buys property
26 July 2008
Asian Destinations, Compared
30 May 2008
Realty boom in emerging nations
29 May 2008
Malaysia voted as top choice for those who want to set up second home
11 May 2008
Be patriotic – sell the country
07 April 2008
Dubai, Malaysia top choice of home hunters
07 April 2008
Aberdeen's first-mover status in Malaysia pays off
02 April 2008
High-end properties continue to attact foreign investors
31 March 2008
600 Beijing healthcare investors scout potential
28 March 2008
An opportunity to make it your second home!
30 April 2007
Your next home could be in Malaysia